(Disclaimer: I am not seeking or expecting official financial advise).
US citizen here, currently living with my Japanese spouse as a Perminant Resident holder in Tokyo, Japan. I work full time and make my living in Yen. A couple years ago, my spouse and I started a 20 year NISA (Nippon Individual Savings Account (少額投資非課税制度)).
I have been aggressively saving for some of our midterm goals but this year have been profoundly discouraged by the falling yen value. I am not very confident in how to go about shorter term investing, would be happy to simply roughly maintain current asset value, not even needing to make a profit, just wanting to counter act my savings plunging value.
With this in mind, I have been thinking about pumping my savings into my NISA account instead. Does anyone have any thoughts about this? I should probably read up more on the technical details about when and how withdraws can be made if I wish to use the money prior to the 20 year window.
Anyways, thank you for any and all info.
The best to each of you.
4 comments
Post it on r/JapanFinance.
You can withdraw any time with nisa. It’s not designed for short term goals, but you also don’t lose anything by participating.
But yeah, ask in /r/japanfinance. And stop being American, it sucks for this kind of stuff
“US citizen here”
And
“And I started a 20 year NISA”
As you’re a US tax payer, Have you researched the PFIC implications for that?
https://masamerica.co.il/en/corporate-tax/taxation-of-pfic-investments-in-the-united-states/
You can only dump 400k JPY a year into a 20 year NISA account. And you can’t take out your gains. If you really need it, you have to pull it all out.